Cidara Therapeutics Rose Rapidly: Did Not Deceive Investors

Cidara Therapeutics Inc. (NASDAQ:CDTX) gained significant attention in the stock market last week. The company's shares increased by over 100% after Merck & Co. made an offer of $9.2 billion to acquire the company.

On Friday, shares of Cidara Therapeutics Inc. (NASDAQ:CDTX) reached a peak of $218.85 during the day, closing with an increase of 105.41% at $217.71.

Following this surge, Cidara Therapeutics Inc. (NASDAQ:CDTX) entered into a share purchase agreement with Merck, which stated that Merck would acquire the company's shares at $221.50 per share. The transaction is expected to be completed in the first quarter of 2026.

Merck's decision to purchase came after Cidara Therapeutics, Inc. (NASDAQ:CDTX)'s candidate drug CD388, targeting individuals at high risk of complications from the influenza disease, received fast track status from the Food and Drug Administration (FDA). Currently, CD388 is being evaluated in a Phase 3 study involving adult and adolescent participants at high risk of developing complications.

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